China Smelting Factories Remained Low Operating Rate on Risks of Price Inversion

Details: Category: Tungsten's News; Published on Monday, 27 May 2019 18:51

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices remained stable in the week ended on Friday May 24 as transactions were hardly concluded despite stabilized offer levels and large tungsten companies reducing production reduced the bidding for more sales. Currently, main factor that impacts product prices greatly is the relationship between supply and demand.

In the tungsten concentrate market, downstream remained low demand for raw materials, and purchasers required low product prices, so high-price deals were rarely seen. The late market trend remained unclear and thus most market participants took a watchful stance.

Ammonium metatungstate (APT) buyers still maintained uninterested in inquiry and the market seemed to be poor in trading. Smelting factories faced grave risks of price inversion with great concerns for inventories in Fanya Metal, environmental protection policy and flow of funds. Offers for products mainly hovered around new guide prices in the market.

Considering the US-China trade conflicts, tungsten powder purchasers made inquires mainly for low-price resources with cautious sentiment. While the raw material side was not active of trading, smelting factories lacking confidence reduced the operating rate. Therefore, tungsten powder prices were under pressure.

Prices of tungsten products on May 27, 2019

China tungsten prices image